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January 18, 2008
MBA Predicts Drop in Lending
The mortgage crisis and the weakening economy will drive home-loan originations down 16.2 percent to $1.96 trillion in 2008 from an estimated $2.34 trillion in 2007, predicts the Mortgage Bankers Association. Additionally, the group expects a 13-percent decline in existing home sales and a 2 percent drop in the median home price.
Posted by S. Germain at January 18, 2008 07:57 AM